GE Capital leads $120 million senior credit facility for Schumacher Group
GE Capital's Healthcare Financial Services (HFS) business announced today that it is serving as the administrative agent on a $120 million senior credit facility for Schumacher Group, one of the largest emergency medicine, hospital medicine, care management and medical billing companies in the U.S.
The new facility consists of a $40 million revolver and an $80 million term loan, which will be used to refinance existing debt and to fund corporate growth. GE Capital Markets served as joint lead arranger and joint book runner on the facility.
"GE Capital has been our lead lender since 2008," said Dr. William "Kip" Schumacher, founder and executive chairman of Schumacher Group. "It's important to me to have that continuity as I appreciate the team's health care industry expertise, their understanding of our business model, and their top-notch customer service."
"Schumacher has been an innovator in patient care," said Al Aria, senior managing director of corporate finance for GE Capital, HFS. "We're pleased to continue our long relationship supporting their growth."
About Schumacher Group
Schumacher Group is one of the nation's largest and fastest-growing health care resources, partnering with more than 3,000 providers to help treat more than four million patients annually. It was recently named #1 on the list of top 50 privately-held Acadiana companies by Acadiana Business, which covers the French Louisiana region. Schumacher Group celebrated its 20th anniversary in August. For more information, go to www.schumachergroup.com.
About GE Capital, Healthcare Financial Services
GE Capital's Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, deploying approximately $9 billion in new commitments to customers via 200+ transactions in 2013. That adds up to more than $70 billion in financing over the past 10 years. For the fourth consecutive year, HFS was the top lead arranger by volume and number of transactions completed for all financings under $500 million in U.S. healthcare leveraged finance.
Customers across 45 healthcare sectors -- including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices -- rely on HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates financial solutions tailored to meet the individual needs of its customers. For more information, visit gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.comor follow company news via Twitter (http://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
